Bwin Writes Off Huge Online Poker Amount

Companies often have to write off bad debt when they suffer a turn in fortunes, and for the Austrian publicly listed betting group Bwin the write off came up to a loss of Euro 5.6 million. The company formerly known as Bet and Win has taken a big hit from the Unlawful Internet Gambling Enforcement Act that has since turned into law, prompting publicly traded companies to turn their backs on American poker player, which comprised some times as much as 80% of revenue producing agents.